Mamba Exploration Limited’s (ASX:M24) shares begin trading on ASX on Friday following the completion of the heavily oversubscribed $7 million initial public offer.
As part of the IPO, Mamba completed the acquisition of the 100%-owned Western Australian projects including the Darling Range nickel, copper and PGE project in the Julimar region, the Calyerup Creek Gold Project in the Great Southern, the Ashburton Gold Project in the southern Ashburton, and the Kimberley Projects in the East Kimberley.
These projects will allow year-round exploration activity and news flows.
“Welcome new shareholders”
Mamba’s non-executive chairman Justin Boylson said: “On behalf of the Mamba Board, I would like to welcome our new shareholders and thank everyone involved for their support and assistance in the completion of the IPO and listing on the ASX, including the project vendors, Canaccord Genuity, Mining Corporate and DLA Piper.
“To complete the IPO and listing in this short timeframe has been a credit to the whole team.”
Exploration activities planned
The company is planning to start exploration activities immediately on the Darling Range and Carlyerup Creek projects and will continue to be the priority until the beginning of the Kimberley and Ashburton field seasons in the June quarter of 2021.
Initial exploration activities include reprocessing of existing geophysical datasets and airborne geophysical surveys in the Darling Range and geochemical sampling and follow up drilling of historical targets at the Calyerup Creek gold project, as outlined in the Prospectus dated December 14, 2020.
Boylson said: “We are now focused on commencing exploration activities on our Darling Range project, approximately 30 kilometres east of the Julimar discovery and our Calyerup Creek gold project in the Great Southern Region of Western Australia, before turning our attention to the Kimberley and Ashburton projects in the June quarter.”